AVON, Ohio—Maroon Group L.L.C. has acquired 100 percent of the assets of Clinton, N.J.-based D.B. Becker Co. Inc., a distributor of specialty chemicals. Terms of the transaction were not disclosed.
Maroon Group said D.B. Becker's management team will continue to manage the business.
“We are committed to the employees and the communities in which they operate,” said Mark Reichard, president and CEO of Maroon Group.
“We look to make significant investment in their business to accelerate our growth.”
D.B. Becker was founded in 1954 and has a legacy of strong supplier and customer relationships through its technical product knowledge, outstanding service and consistent performance, Maroon Group said. D.B. Becker supplies nearly 1,000 customers along the East Coast, with an emphasis on high performance and environmentally friendly raw materials for the paint, ink, coating, adhesive, polyurethane, construction, plastics and allied markets.
“We are honored to complete this acquisition, which is our first step in a multi-tiered growth strategy,” Reichard said in a news release.
“D.B. Becker's management team has built an impressive business through their commitment to excellent customer service,” he said. “We believe the company is well-positioned to continue its strong growth, and we look forward to leveraging each company's portfolio of products through our expanded geographic footprint.”
Dan Canavan Sr., D.B. Becker's president and CEO, agreed. “Maroon Group and D.B. Becker share a similar vision for continued growth and sales excellence,” he said in the news release.
“This acquisition will provide a stronger and more sustainable organization moving ahead.”
Maroon Group's multi-tiered growth strategy is comprised of organic growth and strategic acquisition. For organic growth, Maroon Group recently expanded its sales coverage in the Southeastern U.S. and currently is recruiting to bolster its team in other key geographic and market segments. Reichard said the company is constantly looking to add talent to its team.
“As part of this growth strategy, we actively pursued D.B. Becker,” he said.
“As a 60-year-old organization, D.B. Becker has fantastic brand recognition, a high performing team, established customer relationships and a great lineup of principals. They operate in an East Coast geography, which meshes beautifully with Maroon Group's traditional territory.”
Maroon Group's primary objective of the acquisition is to build upon the success of D.B. Becker. The organizations are stronger together than separately, he said, and will provide greater stability for customers, its principals and its employees.
The acquisition nearly doubles Maroon Group's number of active customers and sales team.
The company is currently evaluating several additional acquisitions in both its traditional markets as well as other verticals.
“We are eager to leverage the outstanding products and service that we offer while expanding our geographic presence,” Reichard said.
There is no set timetable for the growth strategy. He said the last 14 months have brought on unprecedented levels of investment in the firm's business, “as we've built an infrastructure capable of growth.
“We firmly believe that it is critical to integrate our acquired entities as we continue to build scale,” Reichard said.
“The current distribution landscape in North America is highly fragmented, and we feel there exists many opportunities for business owners as they look to navigate their future. We are confident that Maroon Group can become an acquirer of choice.”